The psychedelics space is booming.
Over the past year, startups focused on turning psychedelic compounds into approved medicines have raised hundreds of millions of dollars from private investors and dozens have gone public.
Research on compounds like psilocybin, the active compound found in magic mushrooms, and MDMA is resurfacing after years of neglect amid the war on drugs.
Here’s a look at the booming psychedelics industry:
VCs have deployed millions into psychedelics startups – here’s what they say will happen next
Venture-capital investors have been at the center of the psychedelics boom. In early 2020, startups in the space said they were beginning to see signs that investor appetite was growing.
Then, we saw a flurry of activity, which one industry exec called a “psychedelic renaissance.”
Soon, VC firms focused on psychedelics companies specifically began to emerge.
Read more at Business Insider via MSN.